Restart Business Loan

Interest rate subsidy of up to 3.50% by the Ministry of Finance, for working capital, business premises, or investments within the Republic of Cyprus.

Eligible Customers

Eligible for the scheme are self-employed individuals, very small, small and medium-sized businesses, as well as large corporate companies.

Business loans where the interest rate is subsidized by another government scheme, are exempt.

Financing amount

The maximum loan amount is determined by the type of business activity, and it cannot exceed €800,000.

The loan must be disbursed within 6 months of the date of approval.

 Pricing

  •  Pricing varies depending on the collateral. Loans secured by tangible assets  (mortgage on a property) bear a lower interest rate than loans secured only by personal guarantees.
  • Type of interest: floating interest rate for the whole duration of the loan.

Repayment

  • Up to six (6) years where the loan is sought for working capital.
  • Up to twelve (12) years where the loan is sought for investment within the Republic of Cyprus.
  • Up to twenty (20) years where the loan is sought for business premises 

Grace period

  • Up to twelve (12) months on the principal
  • Up to twelve (12) months on the principal or the principal and interest, if the property is under construction

Subsidy

Maximum interest rate subsidy for four (4) years, as follows:

  • For the first two (2) years: 3.50%
  • For the 3rd and 4th years:
    • 2.00% for self-employed persons, very small, small and medium-sized businesses.
    • 1.50% for large corporates.

 

For more information please contact our branch banking officers.

Need more information?
  • 800 00 800
  • Calling from Abroad + 357-22128000
  • Service hours
  • Monday to Friday, 07:45 until 18:00
  • Saturday and Sunday, 09:00 until 17:00
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